Timothy Sumer

Mastering Crypto Taxation: Maximize Profits, Minimize Liabilities! Dive into the world of cryptocurrency taxation and learn how to navigate the complexities of crypto investments. From understanding taxable events to calculating capital gains, discover strategies to minimize your tax liabilities and maximize the benefits of your digital assets. Stay compliant, well-informed, and ready to tackle the challenges of cryptocurrency taxation! Quiz: What is the cost basis of a cryptocurrency? a. The original value of the asset, typically the purchase price, plus any additional costs such as transaction fees b. The selling price of the asset c. The total value of the asset at the time of sale What is tax-loss harvesting? a. A strategy to reduce taxable income by selling underperforming assets at a loss b. A strategy to harvest more losses by buying high and selling low c. A method to avoid taxes altogether Which type of retirement account allows for tax-free qualified withdraw...

SIMPLE IRAs aren't always so simple. This week's Business Owner's Corner covers what you need to know before establishing one for you and your employees.... ( read more ) LEARN MORE ABOUT: IRA Accounts CONVERTING IRA TO GOLD: Gold IRA Account CONVERTING IRA TO SILVER: Silver IRA Account REVEALED: Best Gold Backed IRA As a business owner, one of your primary concerns is likely providing your employees with a retirement plan that is both simple and affordable. One option that you may be considering is a SIMPLE IRA, or Savings Incentive Match Plan for Employees. While these types of plans can be beneficial for employers in many ways, they are not without their downsides. In this article, we'll take a closer look at the pros and cons of SIMPLE IRAs to help you make an informed decision for your business. The Good: One of the primary benefits of a SIMPLE IRA is that they are easy to set up and maintain. The requirements for participation a...